Panther's arena had net income of ~$90mm from 1998-2008
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12-10-2012, 03:39 PM
Join Date: Aug 2005
Originally Posted by
No Fun Shogun
First of all, Panthers ownership could care less if it's good for the county or not. None of their concern, nor do I think that the financial well-being of the city/county/state/province is high up in the minds of any sports owner that gets public monies for their arena construction and/or management.
Sure, but I care. My team is trying to get a new arena, and I would prefer my city not to have to accept a bad deal to get it.
Bottom line to me - if you own an NHL team, it should either be feasible to lease an arena at a rate where both you and the arena managers make profit, or privately build and debt service an arena with the money from the team and other events, with some money left over for profits.
There is probably some room for public subsidies, since I think these projects can benefit cities, but it shouldn't be required at the levels that it seems to be.
Like I said, the business model doesn't seem sustainable, and seems to require 'legacy project' thinking on the behalf of city councils to actually occur.
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